XRP Price Prediction as XRP Rallies Toward $1 Level – Time to Buy?
The XRP price has risen by 1% in the past 24 hours, with its move to $0.523743 coming as the cryptocurrency market as a whole increases by just over 3% today.
XRP is now up by 6% in a week and nearly 6% in the last 30 days, with the altcoin also having appreciated by 54% since the beginning of 2023, a year which saw Ripple gain a largely positive result in its case against the SEC in mid-July.
And with the wider market seemingly beginning what may be a medium- or long-term recovery, XRP may be in for further gains in the coming days and weeks, helped onwards by Ripple's ongoing expansion as a company.
XRP had been threatening to recover from recent losses for a long while, and it now seems that it has finally begun what may be a sustained rebound.
Its 30-day moving average (yellow) has just begun rising ever so slightly towards its 200-day average (blue), and it's likely that it will begin climbing more steeply in the next one or two days, with its crossing of the longer term average potentially signalling a breakout.
Likewise, XRP's relative strength index (purple) has risen close to 60 today, representing a marked increase in momentum after several weeks spent close to 30, in what was a very oversold position.
And what's encouraging about the RSI's rise is that it still has plenty of space to continue rising before XRP becomes overbought.
XRP is rising today because of the market-wide rally which began over the weekend, possibly as a result of the US Congress agreeing a last-minute spending bill that would avoid a damaging government shutdown.
Regardless, it seems that buyers have begun accumulating XRP again, although newcomers should be mindful that some whales may potentially use the current recovery to dump some of their
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